Revenue & Tax - Senate
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Bills discussed (34)
| Bill | Title | Sponsor | Status |
|---|---|---|---|
|
HB1485
· 5 mentions in agenda, chapter, transcript
Matched: “…ING CERTAIN PROPERTY TAX RELIEF OFFERED UNDER ARKANSAS LAW. HB1485 K. Brown TO CREATE A SALES AND USE TAX EXEMPTION FOR SALES…”
|
TO CREATE A SALES AND USE TAX EXEMPTION FOR SALES TO CERTAIN ORGANIZATIONS THAT SUPPORT … | K. Brown | Died in Senate Committee at Sine Die adjournment. |
|
HB1685
Act 1008
· 5 mentions in agenda, transcript
Matched: “…HOD OF VALUATION FOR OIL AND GAS WELL PRODUCTION EQUIPMENT. HB1685 Underwood TO CREATE THE GROCERY TAX RELIEF ACT; TO AMEND TH…”
|
TO CREATE THE GROCERY TAX RELIEF ACT; TO AMEND THE LAW CONCERNING THE SALES AND … | Underwood | Notification that HB1685 is now Act 1008 |
|
HB1627
Act 877
· 4 mentions in agenda, chapter, transcript
Matched: “…58; AND TO EXEMPT GROCERIES FROM STATE SALES AND USE TAXES. HB1627 Barnett TO AMEND THE LAW CONCERNING PROPERTY TAX RELIEF; AN…”
|
TO AMEND THE LAW CONCERNING PROPERTY TAX RELIEF; AND TO REQUIRE COUNTIES TO PROVIDE NOTICE … | Barnett | Notification that HB1627 is now Act 877 |
|
HB1809
Act 880
· 4 mentions in agenda, chapter, transcript
Matched: “…dwell Sen. Jim Petty REGULAR AGENDA Number Sponsor Subtitle HB1809 Warren TO ALLOW FOR PROPERTY OWNED BY A TRUST OR A LIMITED…”
|
TO ALLOW FOR PROPERTY OWNED BY A TRUST OR A LIMITED LIABILITY COMPANY TO QUALIFY … | Warren | Notification that HB1809 is now Act 880 |
|
HB1922
Act 881
· 4 mentions in chapter, agenda, transcript
Matched: “HB1922 Maddox TO AMEND THE CONSOLIDATED INCENTIVE ACT OF 2003; TO…”
|
TO AMEND THE CONSOLIDATED INCENTIVE ACT OF 2003; TO CREATE AN INCOME TAX CREDIT FOR … | Maddox | Notification that HB1922 is now Act 881 |
|
HB1937
Act 821
· 4 mentions in transcript, agenda, chapter
Matched: “…ext one that we have on our active agenda is going to be 13 House Bill 1937. I want to tell, tell members to this House Bill 1685 is co…”
|
TO AMEND THE METHOD OF VALUATION FOR MINERAL RIGHTS UNDER ARKANSAS CONSTITUTION, ARTICLE 16, § … | Jean | Notification that HB1937 is now Act 821 |
|
HB1063
Act 875
· 1 mention in agenda
Matched: “AGENDA (Revised 4-9-2025 8:16 AM) Moved HB1063 and HB1732 to Deferred Senate Committee on Revenue and Taxa…”
|
TO AMEND THE ACHIEVING A BETTER LIFE EXPERIENCE PROGRAM ACT; AND TO AMEND THE DEFINITIONS … | J. Mayberry | Notification that HB1063 is now Act 875 |
|
HB1085
Act 802
· 1 mention in agenda
Matched: “…SE TAX RATE APPLICABLE TO PURCHASES OF USED MOTOR VEHICLES. HB1085 K. Brown TO ADOPT FEDERAL LAW CONCERNING TAX-DEFERRED TUITI…”
|
TO ADOPT FEDERAL LAW CONCERNING TAX-DEFERRED TUITION SAVINGS PROGRAMS; AND TO AMEND THE INCOME TAX … | K. Brown | Notification that HB1085 is now Act 802 |
|
HB1491
Act 874
· 1 mention in agenda
Matched: “…FROM A COUNTY SALES AND USE TAXES FOR CAPITAL IMPROVEMENTS. HB1491 Wardlaw CONCERNING THE EXCISE TAX ON CERTAIN BEER AND SAKE;…”
|
CONCERNING THE EXCISE TAX ON CERTAIN BEER AND SAKE; TO CREATE AN EXCISE TAX CREDIT … | Wardlaw | Notification that HB1491 is now Act 874 |
|
HB1534
· 1 mention in agenda
Matched: “…USED IN RELATION TO A PROJECT FOR A YOUTH FARMING PROGRAM. HB1534 Schulz TO INCREASE THE HOMESTEAD PROPERTY TAX CREDIT. SB377…”
|
TO INCREASE THE HOMESTEAD PROPERTY TAX CREDIT. | Schulz | Died in Senate Committee at Sine Die adjournment. |
|
HB1732
Act 878
· 1 mention in agenda
Matched: “AGENDA (Revised 4-9-2025 8:16 AM) Moved HB1063 and HB1732 to Deferred Senate Committee on Revenue and Taxation Wednes…”
|
TO INCREASE THE AMOUNT OF THE INCOME TAX DEDUCTION ALLOWED FOR A TEACHER'S CLASSROOM INVESTMENT. | Vaught | Notification that HB1732 is now Act 878 |
|
HB1807
Act 879
· 1 mention in agenda
Matched: “…SAKE PRODUCED USING ARKANSAS RICE; AND FOR OTHER PURPOSES. HB1807 Eaves TO AMEND THE SALES TAX EXEMPTION FOR AIRCRAFT HELD FO…”
|
TO AMEND THE SALES TAX EXEMPTION FOR AIRCRAFT HELD FOR RESALE AND USED FOR RENTAL … | Eaves | Notification that HB1807 is now Act 879 |
|
SB131
· 1 mention in agenda
Matched: “…THE DEPARTMENT OF FINANCE AND Page 2 of 3 ADMINISTRATION. SB131 J. Bryant TO CONFIRM THE LAW RELATED TO THE ASSESSMENT OF A…”
|
TO CONFIRM THE LAW RELATED TO THE ASSESSMENT OF A HOMESTEAD BELONGING TO A PERSON … | J. Bryant | Died in Senate Committee at Sine Die adjournment. |
|
SB204
· 1 mention in agenda
Matched: “…R FUTURE FUND PLAN TO A ROTH INDIVIDUAL RETIREMENT ACCOUNT. SB204 C. Penzo TO EXEMPT FROM GROSS INCOME A GAIN BY A TAXPAYER R…”
|
TO EXEMPT FROM GROSS INCOME A GAIN BY A TAXPAYER RESULTING FROM THE ACQUISITION OF … | C. Penzo | Died in Senate Committee at Sine Die adjournment. |
|
SB233
· 1 mention in agenda
Matched: “…THE RIGHT OF EMINENT DOMAIN OR THE THREAT OF CONDEMNATION. SB233 C. Penzo TO AMEND THE INCOME TAX LAWS RELATING TO CERTAIN T…”
|
TO AMEND THE INCOME TAX LAWS RELATING TO CERTAIN TRUSTS; TO PRESERVE CERTAIN TRUST ASSETS; … | C. Penzo | Died in Senate Committee at Sine Die adjournment. |
|
SB256
· 1 mention in agenda
Matched: “…TRUST ASSETS; AND TO EXEMPT CERTAIN TRUSTS FROM INCOME TAX. SB256 J. Dotson TO AMEND THE ARKANSAS CORPORATE FRANCHISE TAX ACT…”
|
TO AMEND THE ARKANSAS CORPORATE FRANCHISE TAX ACT OF 1979; AND TO REDUCE THE MINIMUM … | J. Dotson | Died in Senate Committee at Sine Die adjournment. |
|
SB268
· 1 mention in agenda
Matched: “…REDUCE THE MINIMUM FRANCHISE TAX FOR CERTAIN CORPORATIONS. SB268 D. Wallace TO TRANSFER GENERAL REVENUE TO THE AGING AND ADU…”
|
TO TRANSFER GENERAL REVENUE TO THE AGING AND ADULT SERVICES FUND ACCOUNT TO BE USED … | D. Wallace | Died in Senate Committee at Sine Die adjournment. |
|
SB274
· 1 mention in agenda
Matched: “…RVICES BENEFITING THE ELDERLY; AND TO DECLARE AN EMERGENCY. SB274 D. Wallace TO CREATE A SALES AND USE TAX EXEMPTION FOR CERT…”
|
TO CREATE A SALES AND USE TAX EXEMPTION FOR CERTAIN ITEMS RELATED TO HUMAN BURIAL; … | D. Wallace | Died in Senate Committee at Sine Die adjournment. |
|
SB289
· 1 mention in agenda
Matched: “…A CASKET, BURIAL VAULT, OR MONUMENT FROM SALES AND USE TAX. SB289 J. Dotson TO CUT THE STATEWIDE SALES TAX RATE BY ONE-EIGHTH…”
|
TO CUT THE STATEWIDE SALES TAX RATE BY ONE-EIGHTH PERCENT TO REDUCE THE SURPLUS FUNDS … | J. Dotson | Died in Senate Committee at Sine Die adjournment. |
|
SB310
· 1 mention in agenda
Matched: “…REDUCE THE SURPLUS FUNDS COLLECTED FROM ARKANSAS TAXPAYERS. SB310 B. King TO ENABLE THE COMMISSIONER OF STATE LANDS TO CONDUC…”
|
TO ENABLE THE COMMISSIONER OF STATE LANDS TO CONDUCT CERTAIN BUSINESS ONLINE; AND TO AMEND … | B. King | Died in Senate Committee at Sine Die adjournment. |
|
SB316
· 1 mention in agenda
Matched: “…NER OF STATE LANDS MUST FOLLOW IN SELLING CERTAIN PROPERTY. SB316 B. Johnson TO AMEND THE SALES AND USE TAX LAWS CONCERNING R…”
|
TO AMEND THE SALES AND USE TAX LAWS CONCERNING REBATES; AND TO REQUIRE THAT SALES … | B. Johnson | Died in Senate Committee at Sine Die adjournment. |
|
SB318
· 1 mention in agenda
Matched: “…THAT SALES AND USE TAX REBATES BE ADMINISTERED AS REFUNDS. SB318 F. Love TO CREATE AN INCOME TAX EXEMPTION FOR CERTAIN INDIV…”
|
TO CREATE AN INCOME TAX EXEMPTION FOR CERTAIN INDIVIDUALS BASED ON INCOME AND AGE. | F. Love | Died in Senate Committee at Sine Die adjournment. |
|
SB338
· 1 mention in agenda
Matched: “…EXEMPTION FOR CERTAIN INDIVIDUALS BASED ON INCOME AND AGE. SB338 Hill TO PROVIDE SALES AND USE TAX EXEMPTIONS FOR STUDENT FA…”
|
TO PROVIDE SALES AND USE TAX EXEMPTIONS FOR STUDENT FARMERS; AND TO PROVIDE SALES AND … | Hill | Died in Senate Committee at Sine Die adjournment. |
|
SB377
· 1 mention in agenda
Matched: “…B1534 Schulz TO INCREASE THE HOMESTEAD PROPERTY TAX CREDIT. SB377 Hester TO CREATE THE GROCERY TAX RELIEF ACT; TO AMEND THE L…”
|
TO CREATE THE GROCERY TAX RELIEF ACT; TO AMEND THE LAW CONCERNING THE SALES AND … | Hester | Died in Senate Committee at Sine Die adjournment. |
|
SB394
· 1 mention in agenda
Matched: “…A DISABILITY OR A PERSON SIXTY-FIVE YEARS OF AGE OR OLDER. SB394 J. Bryant TO AMEND THE LAW CONCERNING THE ALLOCATION, DISTR…”
|
TO AMEND THE LAW CONCERNING THE ALLOCATION, DISTRIBUTION, AND USE OF REVENUES DERIVED FROM A … | J. Bryant | Died in Senate Committee at Sine Die adjournment. |
|
SB419
· 1 mention in agenda
Matched: “…58; AND TO EXEMPT GROCERIES FROM STATE SALES AND USE TAXES. SB419 G. Leding TO CREATE A SALES AND USE TAX EXEMPTION FOR CERTA…”
|
TO CREATE A SALES AND USE TAX EXEMPTION FOR CERTAIN SALES TO A CULTIVATION FACILITY. | G. Leding | Sine Die adjournment |
|
SB423
· 1 mention in agenda
Matched: “…TAX EXEMPTION FOR CERTAIN SALES TO A CULTIVATION FACILITY. SB423 J. Scott TO EXEMPT FROM THE INDIVIDUAL INCOME TAX EDUCATION…”
|
TO EXEMPT FROM THE INDIVIDUAL INCOME TAX EDUCATION SCHOLARSHIPS, AWARDS, AND GRANTS FROM NONPROFIT VOLUNTEER … | J. Scott | Died in Senate Committee at Sine Die adjournment. |
|
SB465
· 1 mention in agenda
Matched: “…AND GRANTS FROM NONPROFIT VOLUNTEER SERVICE ORGANIZATIONS. SB465 B. Davis TO PROVIDE FOR A SALES AND USE TAX REFUND FOR A SP…”
|
TO PROVIDE FOR A SALES AND USE TAX REFUND FOR A SPECULATIVE DEVELOPMENT PROJECT; AND … | B. Davis | Died in Senate Committee at Sine Die adjournment. |
|
SB526
· 1 mention in agenda
Matched: “…VE AGREEMENTS UNDER THE CONSOLIDATED INCENTIVE ACT OF 2003. SB526 Irvin TO PROHIBIT THE SALE OF DISPOSABLE VAPOR PRODUCTS FRO…”
|
TO PROHIBIT THE SALE OF DISPOSABLE VAPOR PRODUCTS FROM A PROHIBITED FOREIGN PARTY. | Irvin | Died in Senate Committee at Sine Die adjournment. |
|
SB558
· 1 mention in agenda
Matched: “…DISPOSABLE VAPOR PRODUCTS FROM A PROHIBITED FOREIGN PARTY. SB558 Crowell TO REQUIRE THE ELECTRONIC FILING OF CERTAIN CORPORA…”
|
TO REQUIRE THE ELECTRONIC FILING OF CERTAIN CORPORATE INCOME TAX RETURNS. | Crowell | Died in Senate Committee at Sine Die adjournment. |
|
SB57
· 1 mention in agenda
Matched: “…ELOCATE TO ARKANSAS. DEFERRED BILLS Number Sponsor Subtitle SB57 C. Tucker TO AMEND THE INCOME TAX CREDIT FOR CERTAIN INDIVI…”
|
TO AMEND THE INCOME TAX CREDIT FOR CERTAIN INDIVIDUAL POLITICAL CONTRIBUTIONS; AND TO AMEND A … | C. Tucker | Died in Senate Committee at Sine Die adjournment. |
|
SB7
· 1 mention in agenda
Matched: “…ELECTRONIC FILING OF CERTAIN CORPORATE INCOME TAX RETURNS. SB7 C. Penzo TO ALLOW MEMBERS OF THE GENERAL ASSEMBLY TO REQUES…”
|
TO ALLOW MEMBERS OF THE GENERAL ASSEMBLY TO REQUEST A SALES AND USE TAX REPORT … | C. Penzo | Died in Senate Committee at Sine Die adjournment. |
|
SB73
· 1 mention in agenda
Matched: “…E ARKANSAS CODE THAT RESULTED FROM INITIATED ACT 1 OF 1996. SB73 B. Johnson TO CREATE THE ACCESS TO CREDIT FOR OUR RURAL ECO…”
|
TO CREATE THE ACCESS TO CREDIT FOR OUR RURAL ECONOMY (ACRE) ACT; AND TO PROVIDE … | B. Johnson | Died in Senate Committee at Sine Die adjournment. |
|
SB82
· 1 mention in agenda
Matched: “…IDE AN INCOME TAX DEDUCTION FOR CERTAIN AGRICULTURAL LOANS. SB82 J. Payton TO INCREASE THE SALES AND USE TAX EXEMPTION FOR U…”
|
TO INCREASE THE SALES AND USE TAX EXEMPTION FOR USED MOTOR VEHICLES; AND TO AMEND … | J. Payton | Died in Senate Committee at Sine Die adjournment. |
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- October 6, 2026
Chair (Senator Jimmy Hickey, Jr)
Unverified
0:00
Members, we'll call the Senate Revenue and Tax meeting to order. We're going to take these in the way that they're popping up here. First one is House Bill 1809. Is there anyone here to present it? Senator McKee, you're going to do
Senator Jimmy Hickey, Jr
Unverified
0:19
it? You need anyone to come with you or do it by yourself? All right, good deal. If you would, just
Senator Matt McKee
Unverified
0:26
recognize yourself and then you can begin. Thank you, Mr. Chair. Matt McKee, State Senate District 6.
This is a bill presented at the request of the tax collectors. There's been an issue with disabled veterans with respect to the homestead exemption on their primary residence. For a multitude of reasons, a disabled veteran's primary residence can be held in a revocable trust, irrevocable trust, or an LLC. As long as the trust or LLC names the disabled veteran as a beneficiary or sole member, the disabled veteran will be able to claim the homestead exemption for their primary residence. I'd be happy to take any questions or bring somebody up if I need to.
Chair (Senator Jimmy Hickey, Jr)
Unverified
1:03
- Okay, any members have any questions in regards to this one? Anyone on
Senator Jimmy Hickey, Jr
Unverified
1:09
the committee? Okay, anyone from the audience who wants to speak for the bill? Anyone want to speak against the bill? You want to close or are you closed? - I'm closed, appreciate a good vote. - All right, do we have a motion from the committee?
- Motion. - Second. we have a motion from senator hester we have a second from senator crow is there any discussion on the motion all in favor say aye any opposed
Chair (Senator Jimmy Hickey, Jr)
Unverified
1:38
it'll pass thank you mr chairman yes sir all right the next one that we have on our active agenda is going to be house bill 1937 i want to tell tell members to this house bill 1685 that's coming up i've made a mistake on that particular one and it shouldn't be on our active agenda as of right now because we've kind of got an agreement so that's a mistake of mine uh so i've asked staff to move
that back to deferred for for the moment do not interpret that that it might not come back home there. Okay, Senator Stone, you're recognized.
Senator Matt Stone
Unverified
2:22
Just introduce yourself. Matt Stone, State Senator District 2. Members, this is a bill that will clarify existing law for assessors and taxpayers and agencies on the valuation of gas wells. Two sessions ago there was a law passed that clarified how oil wells would
be taxed by the county assessors, and this is just amending, or not amending, but just clarifying that gas wells should be taxed in the same manner. County assessors in different counties are taxed at different rates, so this is to clarify that there's uniformity on tax wells when they're being assessed. With that, I'm open to any questions. Also, this is revenue neutral to the state. Okay.
Speaker 15
3:11
any members have any questions in regards to this
Senator Jimmy Hickey, Jr
Unverified
3:19
okay anyone from the audience won't speak for the bill anyone won't speak against the bill you close sender I'm
Senator Matt Stone
Unverified
3:28
closed for the bill I'd appreciate a good vote
Senator Jimmy Hickey, Jr
Unverified
3:30
okay we got a motion from a senator crow do patch we got a second from Senator Hester any discussion on the motion all in favor say aye any opposed okay that motion carries so your bill's
passed yes sir okay again uh house bill 1685 should not be on there at the
Chair (Senator Jimmy Hickey, Jr)
Unverified
3:51
moment house bill 1627 anyone here to present it house bill 1627 I don't think there's a senate sponsor listed on there, so I don't.
Speaker 14
4:11
1627. Do you want to do it, Senator Dismang?
Senator Jonathan Dismang
Unverified
4:24
Senator Jonathan Dismang, district 18, just helped move things along. I mean, if I read the bill just a minute ago, I think all it does is require that counties notify that folks are eligible for a homestead tax credit.
Senator Jimmy Hickey, Jr
Unverified
4:39
Any questions on this bill from the committee? Anyone
from the audience want to speak for it? Anyone want to speak against it? You
closed, Senator? Closed. We have a motion do pass by Senator Crowell. We have a second by
Senator Caldwell. Any discussion on the motion? All in favor say aye. Aye.
Chair (Senator Jimmy Hickey, Jr)
Unverified
5:02
Any opposed? Okay, that bill is also passed okay the next one is uh house bill
1485 representative brown that's the one you're going
Senator Jimmy Hickey, Jr
Unverified
5:12
to present correct okay good to have you you know the
Chair (Senator Jimmy Hickey, Jr)
Unverified
5:23
drill i think just push your button and introduce yourself and then you can begin when you want this is
Representative Matt Brown
Unverified
5:30
house bill 1485 members thank you mr. chair house bill 1485 is a bill to
i brought the wrong bill with me but i know what it is it's a bill to allow organization uh non-profits who support um the like the vet uh organization um facilities i'm I'm going to call it facilities, like Veterans Home, Veterans Cemetery, and things like that, that Arkansas Department of Veterans Affairs manages or is in control of.
I am most familiar with the foundation that was established for the North Little Rock Cemetery. Last year, our total sales tax expenditure was $3,000, so we're not talking about a huge amount of money. Our foundation for the North Little Rock Cemetery is probably the most active foundation. There is a foundation established for the cemetery of Atverdeye, but I know that there's thoughts of creating an umbrella organization to address all the different Arkansas Department of Veterans Affairs facilities.
Sometimes they need things that are not in the budget. And, for instance, with the Veterans Cemetery in North Little Rock, We actually initiated something that the ADVA did not. We now, for several years now, have placed wreaths on all of the graves at Christmastime. It's not a huge expenditure, but it does cost money, and we've been dependent upon individual contributions over the years,
but since COVID, pretty much the individual contributions have pretty much fallen off. And so this would be a big help to us and any other nonprofit that supports ADVA
Chair (Senator Jimmy Hickey, Jr)
Unverified
7:28
facilities. Okay, are you finished? Yes, sir. Okay, any questions by the members of the committee? Senator
Senator Jim Petty
Unverified
7:37
Petty, you're recognized, sir. Just a clarification question. You said that your organization had $3,000. Was that in sales tax payments or is that in purchases?
Representative Matt Brown
Unverified
7:47
that was sales tax payments okay our treasurer informed me of that I am not on the executive committee I stepped away from that when I ran for public office thank you any other questions in regards to this
Senator Jimmy Hickey, Jr
Unverified
8:07
one okay is there anyone from the audience here to speak for the bill against the bill do you want to close
Representative Matt Brown
Unverified
8:15
yes sir I'm closed and I just learned this morning that all the flags
that were placed have all been destroyed by the storm so we will be placing buying all new flags and I am close for mine all right thank you representing Brown do we have a motion on this bill we
Senator Jimmy Hickey, Jr
Unverified
8:26
have a motion we did sorry you failed for a lack of a motion. Thank you. Yes ma'am. Thank you for being here. Okay members the
Chair (Senator Jimmy Hickey, Jr)
Unverified
8:54
next one is House Bill 1922. Senator
Senator Jonathan Dismang
Unverified
9:14
Dismang, you're going to present it? Yes, sir. Senator Jonathan Dismang, District 18, and I'll bring folks with ADC up
Chair
Unverified
9:22
to help explain. Good morning, Clint O'Neill, AEDC.
Okay, you're recognized, Senator Disman. Members, this creates a tax credit
Senator Jonathan Dismang
Unverified
9:29
in the form of sales or income tax that's related back to their reallocation or someone relocates their corporate headquarters to Arkansas. They'd be eligible for a 10% sales tax credit for use of project costs as well as eligible for an income tax credit up to 50% of the taxable wages of a new full-time employees. a tiered look at this and he can explain that further. It does require a cost benefit analysis,
does have provisions for callbacks, and requires a look by DFA. Do you
Speaker 37
10:05
have anything you want to add, Mr. O'Neill?
Speaker 43
10:08
Thank you, sir. Yes, this would be an opportunity to recruit a corporate headquarters would be a very unique scenario. the tier structure we have a tier system in place now tier one counties which are highest per capita income highest population growth down to tier four counties which are counties represented by
those with lower per capita income and lower or decreasing populations so in the tier one counties would require 300 net new jobs at 150 percent of the lesser of the state or county average wage down to Tier 4, which would require 150 net new jobs at 110% of the state or county average wage. So this is not an everyday opportunity. In fact, it's been decades since we've recruited the relocation of a corporate headquarters of this size.
This would give us a tool in our economic development toolbox to compete when we have opportunities where companies come in and they say Texas doesn't have a corporate income tax. Tennessee doesn't have a corporate income tax. But here in Arkansas, you have a favorable business climate, have great workforce initiatives, everything else is going for you. But there's an issue with corporate income tax. So this would put us on a level playing field to be able to compete with states like Texas and Tennessee. I'm not saying if we pass this,
we'd be able to use it in the next year, in the next two years, but it would give us an excellent tool in our toolbox to be able to compete for these
Senator Ronald Caldwell
Unverified
11:50
type of projects. - Any questions? Senator Caldwell. - I'm just trying to get an understanding of it. I'm in favor of it, not opposed. But the 10%, is that ongoing every year, the credit, or is this a one-time credit or a five-year credit, or what are we looking at?
Speaker 11
12:03
They're not sellable, and they only can carry forward. That's right. So really the point is to set up a
Speaker 43
12:10
scenario where a corporation would not pay state corporate income taxes for five years. That's fine. I didn't know
Senator Ronald Caldwell
Unverified
12:18
if it was ongoing, unlimited, but it's a five-year process. And then a sliding scale for the next five years is 20%. They earn the credit. They keep it until they use it. But you say that it's a sliding scale, so 20 years from now, they may still have an incentive on this, is what you're saying?
Speaker 43
12:41
Well, after the five-year period of offsetting 100% of their corporate income tax and then sliding scale for five years, and then the program's
Speaker 50
12:49
over. So after 10 years, no benefits. I just wanted clarification. That's fine. Thank you. Senator Hammer,
Senator Jimmy Hickey, Jr
Unverified
12:58
did you have a question? Okay. Any other members have a question on
this? I have one. I'm just trying to get my head around. So on the part about the 150% of the county or state average hourly wage for the county,
what are you doing there? Are you using the state employees of the county? How does that work?
Speaker 43
13:24
I just want to understand it. It comes from a federal data source. It's all public and private sector employees, where if you had maybe a tier four county where the county average wage was lower than the state average wage, it would still allow for this program to kick in if it was 110% of the county,
which may be less than the state average wage, where you may have some counties, obviously where the county average wage is higher than the state, but it would still require the percentage that that tier requires above the state average wage. But no, sir, it comes from, you know, it's updated year by year, and it's a total collection of wage data. Okay, so it's
Senator Jimmy Hickey, Jr
Unverified
14:09
a lesser of, I'm just going to use the tier one, lesser of 150% of the county or state average wage rate.
So what you're telling me is that county or state average wage rate is that published report that you're getting for both of those? Are they combined? Is that what that is, a combination? No,
Speaker 43
14:28
sir, it's different wage data. So for all 75 counties, you would have the county average wage for each one and obviously the consistent state average wage. We'd look at the lesser of each and then whether you're hitting that
Senator Jimmy Hickey, Jr
Unverified
14:42
threshold. Fair enough. All right. Thank you. Thank you for the explanation. Okay, members, any other questions in regards to that?
Okay, anyone from the audience want to speak for this bill? Anyone want
to speak against this bill? You want to close, Senator Dismain? He's closed. What's the will of the committee? We've got Senator Kroll for a motion due passed. I'm going to take Senator Hester as a second, if that's okay. Any discussion on this motion? Okay, all in favor say aye. Aye. Any opposed? Okay, congratulations. That bill's
passed. okay members i believe that that is it unless anybody else has anything else
they want to bring before the body okay with that we're adjourned
Agenda
CALL TO ORDER - Senator Jimmy Hickey
REGULAR AGENDA
HB1809 Warren TO ALLOW FOR PROPERTY OWNED BY A TRUST OR A LIMITED LIABILITY COMPANY TO QUALIFY AS A HOMESTEAD FOR PURPOSES OF THE PROPERTY TAX EXEMPTION FOR DISABLED VETERANS IN CERTAIN CIRCUMSTANCES.
HB1937 Jean TO AMEND THE METHOD OF VALUATION FOR MINERAL RIGHTS UNDER ARKANSAS CONSTITUTION, ARTICLE 16, § 5; AND TO CLARIFY THE METHOD OF VALUATION FOR OIL AND GAS WELL PRODUCTION EQUIPMENT.
HB1627 Barnett TO AMEND THE LAW CONCERNING PROPERTY TAX RELIEF; AND TO REQUIRE COUNTIES TO PROVIDE NOTICE TO TAXPAYERS CONCERNING CERTAIN PROPERTY TAX RELIEF OFFERED UNDER ARKANSAS LAW.
HB1485 K. Brown TO CREATE A SALES AND USE TAX EXEMPTION FOR SALES TO CERTAIN ORGANIZATIONS THAT SUPPORT VETERANS' FACILITIES.
HB1922 Maddox TO AMEND THE CONSOLIDATED INCENTIVE ACT OF 2003; TO CREATE AN INCOME TAX CREDIT FOR RELOCATING CORPORATE HEADQUARTERS TO THIS STATE; AND TO ENCOURAGE CORPORATIONS TO RELOCATE TO ARKANSAS.
ADJOURNMENT
Documents
| Title | Type | Pages | Source |
|---|---|---|---|
| Agenda — REVENUE & TAX - SENATE, Apr 9, 2025 | Agenda | 3 | Official source ↗ |
Speakers
Chair (Senator Jimmy Hickey, Jr)
Unverified
Senator Jimmy Hickey, Jr
Unverified
Senator Matt McKee
Unverified
Senator Matt Stone
Unverified
Speaker 15
Speaker 14
Senator Jonathan Dismang
Unverified
Representative Matt Brown
Unverified
Senator Jim Petty
Unverified
Chair
Unverified
Speaker 37
Speaker 43
Senator Ronald Caldwell
Unverified
Speaker 11
Speaker 50